Chinese travel portal Wegogo raises over RMB 600 million

Wegogo, a travel platform aimed for Chinese travellers, has raised over $958,000 in a pre-Series A investment joined by Kathleen Tan, president of AirAsia China, and ITM Capital, the company announced on May 7.

“The market potential for the tours and activities segment alone is the third largest in the world, and will be worth $129 billion in the next two years,” said Wong Toon King managing partner of FarSight Capital, lead investor and chairman of Wegogo.

Wegogo also announced the launch of initial coin offering of its WeGold Tavel Tokens to fund “Fair-Share Travel Ecosystem” project based on the blockchain technology.

With the launch of WeGold travel tokens, Wegogo seeks to create a currency to transact on the travel ecosystem and platform as well as fund future travel projects.